Trader Says XRP Will Be Off to the Races Once Major Resistance Level Is Overcome – Here’s His Price Target - The Daily Hodl

2024-12-19 07:30:40

Analyst and trader Ali Martinez is leaning bullish on the third-largest crypto asset by market cap, XRP.

Martinez tells his 100,500 followers on the social media platform X that XRP is flashing a bullish signal on the four-hour time frame and could soar by around 57% from the current level.

“XRP has been consolidating in this bull flag for a while, but once it clears the $2.60 resistance, I think it’s off to the races, heading toward $4!”

Source: Ali Martinez/XXRP is trading at $2.55 at time of writing.

Next up is Bitcoin (BTC). According to Martinez, long-term holders of Bitcoin are reducing their positions, a phenomenon that coincided with a market top during the last two BTC cycles.

“Long-term Bitcoin holders often sell near market tops. Interestingly, in 2017 and 2021, their biggest sell-offs occurred right before the final leg up.

Could we be on the verge of a similar pattern? Is this the start of a market top?”

Source: Ali Martinez/XBitcoin is trading at $104,919 at time of writing.

Next up is Ethereum (ETH). The crypto trader and analyst says that Ethereum could be on the cusp of a massive rally.

“In the past two bull cycles, Ethereum went parabolic when long-term holders shifted into greed mode. Right now, they’re only in the early stages of the belief phase. The big move could still be ahead!”

Source: Ali Martinez/XEthereum is trading at $3,866 at time of writing.

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